Sagespring Wealth Partners LLC Buys New Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Sagespring Wealth Partners LLC purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,646 shares of the utilities provider's stock, valued at approximately $277,000.

A number of other institutional investors also recently made changes to their positions in the stock. Fulton Bank N.A. increased its position in CenterPoint Energy by 2.7% during the 1st quarter. Fulton Bank N.A. now owns 13,718 shares of the utilities provider's stock worth $497,000 after purchasing an additional 362 shares in the last quarter. Colonial Trust Co SC grew its holdings in shares of CenterPoint Energy by 9.2% during the fourth quarter. Colonial Trust Co SC now owns 4,601 shares of the utilities provider's stock worth $146,000 after buying an additional 388 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of CenterPoint Energy by 8.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider's stock valued at $164,000 after buying an additional 390 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of CenterPoint Energy by 58.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after buying an additional 400 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of CenterPoint Energy by 3.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider's stock valued at $378,000 after buying an additional 416 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Price Performance

CNP opened at $35.54 on Friday. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $39.31. The company has a 50 day moving average of $37.25 and a two-hundred day moving average of $34.73. The company has a market cap of $23.20 billion, a P/E ratio of 23.85, a P/E/G ratio of 2.62 and a beta of 0.59. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 1.86.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.73 billion. CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. During the same period last year, the company posted $0.55 earnings per share. On average, analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, May 15th. CenterPoint Energy's dividend payout ratio (DPR) is 59.06%.

Analyst Ratings Changes

Several analysts have commented on CNP shares. Morgan Stanley lowered their target price on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating and issued a $40.00 price objective (up previously from $35.00) on shares of CenterPoint Energy in a research report on Friday, April 25th. Argus upgraded CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. BMO Capital Markets increased their target price on CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Finally, Barclays upgraded CenterPoint Energy from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $30.00 to $37.00 in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.04.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.

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